May 13, 2021
Low-wage workers in the US are seeing their pay increase en masse, and McDonald’s is the latest employer to boost wages.
As it looks to hire 10,000 new US employees over the next few months, the fast-food chain announced today it is raising the hourly wages for more than 36,500 employees at its company-owned restaurants by an average of 10%. Entry-level workers will earn between $11 to $17 an hour, and shift managers will earn between $15 to $20 an hour, depending on location.
The company says it expects average hourly wages to reach $15 an hour by 2024. McDonald’s owns just about 5% of its 13,900 US restaurants; the rest are operated by franchises who set their own pay and benefits at their stores.
Editorial | what does this mean?
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
MFS Africa invests in Cameroon s Maviance 2 hours ago Pan-African digital payments hub MFS Africa has made a $3 million investment in Cameroon-based fintech Maviance. Maviance operates a digital financial services platform, called Smobilpay, designed to help Cameroon s micro, small and medium-sized enterprises, as well as their customers, ditch cash.
The platform serves over 500,000 unique customers a month, and has connected key service providers, payment providers, financial institutions and mobile money operators.
The new funding will be used to increase Maviance s footprint in Cameroon and to expand into other countries in the central African economic region.
Editorial | what does this mean?
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
Wise looks to next generation of IT staff with coding school kood / Jõhvi 2 hours ago Money transfer platform Wise is collaborating on a cloud-based edcuational initiative to help solve an IT skills shortage in its home country of Estonia. Estonia, home to over 1,100 startups and 7 unicorns is currently short of thousands of IT specialists, and women occupy only 1/5 of jobs in the sector.
The new coding school, kood / Jõhvi, is aiming to bridge the gap, paving the way for hundreds of new IT specialists to enter the Estonian job market every year. The two-year study programme is built on a cloud-based platform where each student moves at their own pace, solving the tasks set by the system. There are no teachers or traditional classes in Jõhvi school and the studies